Bookkeeping

At the same time, the opportunity cost is larger over longer time periods, during which time that principal is tied up and cannot be used for any other purpose. Generally, it’s smart to select the shortest loan term you can comfortably afford. The longer your term, the more you’ll pay in total interest over the […]

When you incorporate your business, you establish a legal distinction between the entity and yourself. Let’s take a deeper dive into the benefits of incorporating your business. Although some corporations, like C corporations (C-corps), are subject to double taxation, other corporation structures, such as S corporations (S-corps), may give you tax benefits depending on how

A higher TIE ratio suggests that a company is more capable of meeting its debt obligations, which is critical for lenders and investors concerned with a firm’s risk level. In general, it’s best to have a times interest earned ratio that demonstrates the company can earn multiple times its annual debt obligation. It’s often cited

Such software aids in recording financial transactions efficiently and ensures that the financial records are always up to date. This level of detail is invaluable when it comes to financial reporting, filing tax returns, and validating the business transactions recorded. It’s also a key component in demonstrating due diligence and maintaining accurate books, which are

Account receivable turnover also fails to consider extenuating circumstances that your clients may face that would cause them to be delinquent in their payments to you. Perhaps a warehouse fire or cybersecurity attack is impeding their ability to pay on time; these instances are one-offs and will usually recover in the next period. Data points

The primary objectives of both management and financial accountings include recording business transactions, recording revenues and expenses as they occur, as well as preparing Financial Statements. However, the primary objective of financial accounting is to provide information for use by external users while Management Accounting focuses on providing information for making better management accounting business

Sign up as a customer today and get a free month of bookkeeping, valued at $299. QuickBooks and other bookkeeping software give you a tool to do your own bookkeeping. FULL SERVICE BOOKKEEPING AND ACCOUNTING FIRM You can also expect a quarterly review of account statements to monitor losses and profits. Choice Bookkeeping, Inc. is

A rising rate environment will likely dictate a different strategy than a stagnant one. If you net positive own a callable bond, remain aware of its status so that, if it gets called, you can immediately decide how to invest the proceeds. To find out if your bond has been called, you will need the issuer’s

What’s most important is that you get the details right so that you can stay compliant with ethics rules and help your firm grow to its full potential. If you’re not sure what tax deductions you should be watching for, our post covering the top tax deductions for lawyers and law firms is a good

Or it can be outsourced to a company that specializes in developing accounting information systems. The cost of accounting software depends on the complexity accounting for it of the software and the number of users who will have access to it. Subscription-based software can cost anywhere from $9 to $999 per user per month. Organize